Blockchain to transform African economies: UWIN

The Unleashing the Wealth research in Nations (UWIN) revealed that 70% of professional investors believe that blockchain and modern technology will have a positive impact on Africa over the next five years

The survey revealed that investors see huge potential for the blockchain to transform African economies. (Image source: nattanan23 / Pixabay)

UWIN, a blockchain company that aims to transform agriculture and trade in raw materials in Africa and other parts of the developing world, said that about one in six (16%) think that the blockchain could have a "huge" impact during this period.

Julius Akinyemi, CEO of UWIN, said: "You can see the positive impact that technology, in general, is already having on all aspects of African life.In East Africa, for example, the penetration of smartphones should reach at least 50% by 2020, compared to 2% in 2010. This is 78% of the professional investors we interviewed believe it will be important to help African economies grow. "

The research revealed that 51% of professional investors believe that African economies are well positioned to benefit from rapidly accelerating technology changes, such as blockchain. It can unlock growth and exceed the limits and costs of physical infrastructure in important areas of economic life. Only 29% of respondents disagree with this point of view.

Sandra Ro, managing partner and COO of UWIN, commented: "The potential for technology and the blockchain to change the world for the better has never been so great." Growth and development in Africa are being held back by several factors, including inadequate infrastructure, and technology can help overcome these challenges. "

UWIN is discussing with African governments how they could use its technology to enable farmers in developing countries to properly register their products, mobilize them and efficiently exchange their products on a reliable platform.